On a technical basis, poverty has been eliminated in China, an achievement much cited by Western observers. Millions of people who, not so long ago, lived under terrible conditions have been lifted out of poverty. On a 20-year time scale, this is an astounding achievement, but just as important is the growth of the other segment of the population because this is the driving force of the economy.
It’s the beginning of a long and desperate winter in England, with dire predictions of increasing poverty and people dying in homes they cannot afford to heat. The situation seeems to be an apt metaphor for Western economies as they battle inflation and other economic headwinds. With it comes the assumption that the Chinese economy cannot be immune from the same forces.
In China, the week-long Golden Week holiday and the upcoming 20th National Congress of the Chinese Communist Party on October 16 provide time to reflect on the situation. Travel during Golden Week has been restricted due to Covid, but this increasingly irritating inconvenience cannot mask a brighter outlook than that experienced in the UK.
